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does law enforcement approach this scenario? what do you think the next few hours will look like? >> i think it will be a deliberative and careful process. as you say, they are closing in on the suspect and that is tightening. one of the concerns is does this individual have explosives attached to his body, has he taken someone hostage. is that wired explosively and we've seen that in other plots as the net tightened that the individuals decided to use explosives. >> we have boston p.d. on this, there's fbi, there's atf and massachusetts guardsmen. who is in the lead here? >> the lead will be the joint terrorism task force which is led by the fbi. so in a sense, they're organizing all of the constituent agencies and giving direction. i wonder, someone mentioned the events in the last three hour, this all was an attempted robbery. an m.i.t. rob shot and killed, grenades thrown from a vehicle. report of the dead suspect having an ied on his person. characterize, scale from one to ten, level of danger as they get closer to this remaining suspect? >> i would say it's about a level eight. b
devastation. it started out as a law enforcement investigation, but as authorities said last night that is likely to change. >> this will be a combined, federal, state and lookal effort. it will be an ongoing investigation, it is a criminal investigation that has the potential -- is a potential terrorist investigation. >> our next news briefing is just minutes away at the bottom of the hour and cnbc will carry at least part of that live. it is going include massachusetts governor deval patrick and the fbi special agent in charge who you just heard of, massachusetts, two u.s. senators are both at the westin hotel behind me and a large amount of media from around the world. everyone asked me the same question, which is why? david? >> thank you very much, scott cohn reporting, of course, from boston. after a very rough monday which sought dow plunge by almost 266 points since the biggest drop in november. futures are on the rebound. better than expected from coca-cola and johnson & johnson, but on the flipside, target warning that its first quarter earnings citing expectations and cit
things are temporary and they'll go away, we hope. >> my goal is i want to go back to law school and become a lawyer for bank of america. this is the most remarkable quarter where j.p. morgan beat them in credit card and pnc beats them in all lines, but in the end we got them here at the conference call because i just don't believe too could be that sluggish or that merrill could have such bad trading. there is a code here and i don't have it yet. i just don't believe that bank of america is this bad. i just don't think it's that much of an outlook. >> the stock is down, not a terrible move dunn. there was some litigation expense that perhaps was unexpected related to countrywide. the story in part has been let's release those litigation reserves that they've been building up, but not as much as had been hoped. that's still out there. >> you're taking a billion in costs and shouldn't you explore the earnings line? >> that's a lot of cost to take out, but you have to give credit, at least that they have been successful in doing what they said they would when it comes to costs. >>
, marking a dramatic turn for law enforcement officials trying to piece together what was behind that attack. our scott cohn is in boston and has the latest on the investigation. scott, good morning. >> reporter: good morning, carl. it's hard to believe it's been one week since those horrible bombings at the end of the boston marathon. later today at 2:50 local time, the precise time of those bombings one week ago, there will be a moment of silence in boston and church bells will toll throughout the city. dzhokhar tsarnaev, the 19-year-old bombing suspect remains in serious condition where he is recovering from his wound, but apparently he is alert enough to begin responding to some of the investigators' questions. many of those responses in writing because he has gunshot wound possibly, self-inflicted to the throat, but amazingly, he and his brother for some three days managed to hide in plain sight. dzhokhar at umass dartmouth where he was a student, he worked out in the gym, even talked to friends about the bombing. imagine how chilling that was for his classmates. >> i'm in diss belief,
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